The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-04-28
THE RKCoRDl.

From this IL will be seen that at
the Last high point OF return to the
planter, dating over four years before
the organ zation OF the American Oil
Trust, cotton eeed got to $l3 80 per
ton, aud held 1t for three years, and
netted the planter an average OF 80 90.
The price has now fallen to 80 90
gross and 81 20 net to the planter. The
producer, the efore, now gets "a per
cent. less price for his seed than / Q
did in 1881"
So much for the figures. The ITEM
then goes on to say: 1.-THE differences
between the gross and the net prices
was caused by the freight charges,
which were 81 so per ton in 1881, and
So 20 in 1S86-S7. But this reduction
to the planter ia only about one.half
that which the Cotton Oil Trust re-
coiyes the benefit OF. That concern
also receives, in addition, the ad-
vantages OF the lower rates of freight,
which are equal to nearly 10 per cent.
more, or total Of, say, 81 per cent.
in favor OF the combination, which Is
loes divided bstween the planters
and The carriers.
THEE ARE FACTS
"The Cotton Oil Trust owns and
controls, though it does not keep in
active operation, nearly all the con-
siderable oil mills in the South, and
all the refineries save four. 1t has
eight in Alabama, seven in Arkansas
(sll but one with only twelve boxes),
i've in Georgia, twelve in Mississippi,
Eve in North Caroline, nine in Louifi'
ana (s'l except three, with an aggre-
gate Of only ninety-nine boxes which
have a combined capacity Of 1892
boxes, ten in Tennessee, twelve In
Texas, two in Missouri and one in
Cairo, I'll. Florida with three mills
az d only thirty-six boxes, has 80 far
escaped.
Nov, these are the facts ss to the
course Of prices aud the fate OF the
mills, which have been swallowed up
or strsngled by the gigantic concern.
Under its management there has been
a reduction Of more than one third in
the price paid the planters for seed,
while there has not been compensat-
ing reduction in the price Of its pro-
ducts. The Cotton Oil Trust may not
be solely responsible for its depression,
but it has an inimicsl influence, which
certainly has not had the effect to suS'
tain the market"
sTILL ANOTHER COUNT.
"But the injury 10 the planter is not
the only count in the Indictment, nor,
az We conceive, the principal one.
The minority shareholders, whose
stock has been shut out by the com.
bination which ha1 no use for single
share beyond the amount nee ,ssry to
give it control, find their property en-.
tirely worthless on their hands Their
interest, while the Cotton Oh Trust is
allowed to go on without check, Is not
worth one cent on the dollar. The
charters are reduced to waste paper
aud some Of the expensive plants con-
demned to junk. The effect Of the
manipulation has been to give the com.
bination the control and usufruct Of
some Of the most productive property
in the South at but little more than
one half its value, payable in certifi-
Gates OF Its stock that it cost, say dol
lar q ream, to print. There may be
some bubble by which the gigantic
wrecker can defeat the efforts Of the
Attorney General to call II to account,
but we have an abiding confidence in
his ability to succeed"